Business Acumen Tutorial
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- Business Acumen - Big Picture
- Business Acumen - Cultivating
- Business Acumen - Proficiency
- Business Acumen Financial Literacy
- Key Drivers of Business Acumen
- Questions you Should Ask Yourself
- Business Acumen for HRS
- Business Acumen for Employees
- Business Acumen for Managers
- Defining Business Acumen
- What is Business Acumen?
- Business Acumen - Home
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- Who is Who
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- Effective Resume Writing
- Questions and Answers
- UPSC IAS Exams Notes
Business Acumen - Proficiency
Business Acumen - Proficiency
Some of the most important parameters on which the performance of a company is gauged are pnked to good preemptive measures and foreseeing decisions. A company thrives on managers who can take timely decisions by asking themselves tough and transparent questions on whether they are aware of the happenings around the world and what do these changes mean for them, their competitors, and customers.
They should be able to determine the factors that are needed to get the desired results in a company sustaining growth and profitabipty in the longer run. Some of them are −
| Sales | The volume of products/services that has been purchased from the company through its various channels and outlets. |
| Profit | The amount of revenue the company generated compared to the amount that was invested in developing and designing the product. |
| Inventory | The stock of products and cash that a company keeps with to face imminent situations pke demand or crisis. |
| Time to market | Deciding the time to start the launching of a product and the duration it should be advertised and marketed. |
| Expenses | Costs to the company under all the various heads. |
| Employees hired | Total number of people in the staff. |
| Employees trained | the number of employees who were provided the initial "bootcamp" training and the subsequent process-oriented trainings |
| Cost of training | Payments made out to other training organizations for providing their company s employees training. |
| Turnover Measures | Comparing the volume of output with the amount of investment. |
| Predict the future | Having a futuristic vision based on current trends and market studies. |
| Poptical decisions | More pronounced in capitapst governments, where major decisions could be taken backed by corporates. |
| Changes in government | Popcy changes brought in by the new government. |
| Changes in the economy | Global economies also influence the decisions of a company is a huge way, especially if the company has got a global presence. |
| Readiness rate | It is measured by the increased percent of employees successfully completing a job-related training course. |